Yes, in the old version of Portfolio Management (pma) functionality, inactive investments were not included and the functionality had a hidden filter built into the functionality.
Remember that the functionality was removed and a completely new Portfolio Management (pfm) functionality is introduced in Clarity 13.2 and beyond.
This new functionality now uses studio objects and the 'active' attribute can be configured in the portlets and also used in power filters.
For more details on the new functionality, reference the 13.2 Change Impact and Upgrade Guide.
There are also some good videos introducing this new feature in the BrightTalk Clarity Channel.
Here is a webcast that shows What's New in Clarity 13.2